Market Week: January 5, 2015

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Old 01-06-2015, 10:53 AM
Certified Financial Group Certified Financial Group is offline
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Default Market Week: January 5, 2015

The Markets
A couple of disappointing economic reports coupled with year-end tax maneuvers put the few traders who were at their desks last week in selling mode. All four domestic indices plus the Global Dow lost more than 1%, while the benchmark 10-year Treasury yield fell as prices rose.

Last Week's Headlines
The growth of U.S. home prices showed signs of slowing in October as the S&P/Case-Shiller 20-City Composite Index saw a -0.1% downturn for the month. October's 4.5% increase year-over-year also was slightly less than September's 4.8%. However, 8 cities reported the pace of increases had actually accelerated; two months ago, all 20 cities reported weakening.
The Institute for Supply Management said its gauge of U.S. manufacturing showed slowing growth. The index reading of 55.5% was 3.2% lower than November's reading, though any number above 50 indicates expansion.
Construction spending in the United States fell 0.3% in November, and the Commerce Department said a 1.7% drop in government spending on schools and infrastructure was responsible for much of that decline. However, total construction spending was up 2.4% from last November.

Eye on the Week Ahead
In 2015's first full week of trading, minutes of the Federal Reserve's most recent monetary policy committee meeting will be parsed for information about what led to elimination of the "considerable time" language in its most recent statement about future interest rates. And as always, Friday's unemployment report will be of interest.

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All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the informationnor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, andshould not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investingstrategy will be successful. Prepared by Broadridge Investor Communication Solutions, Inc.
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